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Focusing on Big Banks Is a Mistake: Dick Bove

Shoshanna Delventhal

At a time when the economy is doing well and interest rates are rising, about half of the banks labeled as systemically important by the financial stability board are trading down in a bear market year-to-date (YTD), noted CNBC in a segment preceding Thursday's banking stress test results. According to analyst Dick Bove of Hilton Capital Management, focusing on the largest six banks is a failure to see the bigger picture and gain on high-flying mid-cap financial stocks.